EURUSD and USDJPY Intraday - Elliott Wave Analysis

EURUSD is turning nicely down for the last few hours, possibly with first
small impulse through the channel support line which is a first evidence for
a short-term weakness in minimum three waves. However, that's still not enough
for confirmed top of a red wave C); we need overlap with 1.1232 level first.
In that case we will look straight to the downside.

EURUSD 1h Elliott Wave Analysis

USDJPY doesn't show us any signs of a completed correction yet, but price
definitely approaches to some interesting region where bulls come into play.
We are looking at 119.80-120.00 area from where pair could bounce this week
in impulsive fashion.

Grega is based in Slovenia and has been involved in markets since 2003. He
is the owner of www.ew-forecast.com,
but before that he was working for Capital Forex Group and TheLFB.com. His
feature articles have been published on: SafeHaven.com, FXstreet.com, Thestreet.com,
Action forex, Forex TV, Istockanalyst, ForexFactory, Fxtraders.eu, Insidefutures.com,
etc. He recently won the award on FXStreet.com for Best Forex Analysis in 2016.
At www.ew-forecast.com he helps clients
and educate them about the Elliott wave prinicple and how to label and track
unfolding patterns in real time. His approach to the markets is mainly technical.
He uses a lot of different methods when analyzing the markets such as candlestick
patterns, MA, technical indicators etc. His specialty however is Elliott Wave
Theory which could be very helpful especially if you know how to use it in
combination with other tools/indicators.

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